Evolent Health (NYSE:EVH) Reaches New 52-Week Low Following Analyst Downgrade

Evolent Health, Inc. (NYSE:EVH) hit a new 52-week low during trading on Friday after Oppenheimer lowered their price target on the stock from $45.00 to $34.00. Oppenheimer currently has an outperform rating on the stock. Evolent Health traded as low as $15.51 and last traded at $15.51, with a volume of 258769 shares changing hands. The stock had previously closed at $24.57.

EVH has been the subject of a number of other research reports. JMP Securities decreased their target price on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. upped their target price on Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. Citigroup decreased their target price on Evolent Health from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. KeyCorp started coverage on Evolent Health in a report on Friday, October 11th. They set an “overweight” rating and a $35.00 price target for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 price target on shares of Evolent Health in a report on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Evolent Health currently has a consensus rating of “Buy” and a consensus price target of $34.90.

Insider Activity at Evolent Health

In related news, General Counsel Jonathan Weinberg sold 42,140 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total value of $1,314,768.00. Following the transaction, the general counsel now owns 167,027 shares in the company, valued at $5,211,242.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Evolent Health news, General Counsel Jonathan Weinberg sold 42,140 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total value of $1,314,768.00. Following the transaction, the general counsel now owns 167,027 shares of the company’s stock, valued at approximately $5,211,242.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Seth Blackley sold 187,904 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $5,637,120.00. Following the sale, the chief executive officer now directly owns 411,924 shares in the company, valued at approximately $12,357,720. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 307,291 shares of company stock worth $9,290,385 over the last 90 days. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Evolent Health

Hedge funds have recently modified their holdings of the business. Headlands Technologies LLC acquired a new position in shares of Evolent Health during the 1st quarter worth approximately $46,000. Covestor Ltd increased its position in shares of Evolent Health by 138.1% during the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after purchasing an additional 826 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Evolent Health by 5,365.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after purchasing an additional 1,556 shares during the last quarter. Quarry LP acquired a new position in shares of Evolent Health during the 2nd quarter worth approximately $32,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Evolent Health during the 2nd quarter worth approximately $61,000.

Evolent Health Price Performance

The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -14.21 and a beta of 1.58. The company has a 50-day simple moving average of $26.84 and a two-hundred day simple moving average of $24.83. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.09. The firm had revenue of $647.10 million for the quarter, compared to analyst estimates of $636.46 million. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The business’s quarterly revenue was up 37.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.06 EPS. As a group, equities research analysts forecast that Evolent Health, Inc. will post 0.84 EPS for the current year.

Evolent Health Company Profile

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.